Multiple Choice
Lori Company sold an operational asset,a machine,for cash.It originally cost $20,000.The accumulated depreciation at the date of disposal was $15,000.A gain on the disposal of $2,000 was reported.What was the cash inflow from this transaction?
A) $3,000.
B) $4,000.
C) $5,000.
D) $7,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: The net increase (or decrease) in cash
Q62: Investing activities reported on the statement of
Q63: The 20B income statement for Ryan Corporation
Q64: Which of the following is a cash
Q66: Typical financing activities do NOT include the
Q69: Which of the following transactions would not
Q70: Using the indirect method,calculate the amount of
Q71: The financial statements for Ozzie Company show
Q72: Which of the following statements about the
Q84: While preparing a statement of cash flow,